FORD MOTOR CREDIT COMPANY LLC (NYSE:F) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
Bob Shanks, Ford Motor Companys (Ford) executive vice president
and chief financial officer, will host a Lets Chat forum at 10
a.m. EDT today to discuss key items of interest to the investment
community. The presentation will note that Ford expects its total
company adjusted pre-tax profit to be about $9 billion in 2017,
which is lower than in 2016 driven by Fords planned investments
in emerging opportunities, and to improve in 2018. Ford is
establishing earnings per share guidance for the first quarter of
2017 in the range of $0.30 to $0.35 for both earnings per share
(GAAP) and adjusted earnings per share (non-GAAP). This is lower
than Fords earnings per share in the first quarter of 2016 due
to: higher costs (including commodities, warranty, and
investments in emerging opportunities); lower volume (primarily
fleet); and unfavorable exchange. We continue to expect Ford
Credits pre-tax profit to be about $1.5 billion in 2017 and to
improve in 2018.
and chief financial officer, will host a Lets Chat forum at 10
a.m. EDT today to discuss key items of interest to the investment
community. The presentation will note that Ford expects its total
company adjusted pre-tax profit to be about $9 billion in 2017,
which is lower than in 2016 driven by Fords planned investments
in emerging opportunities, and to improve in 2018. Ford is
establishing earnings per share guidance for the first quarter of
2017 in the range of $0.30 to $0.35 for both earnings per share
(GAAP) and adjusted earnings per share (non-GAAP). This is lower
than Fords earnings per share in the first quarter of 2016 due
to: higher costs (including commodities, warranty, and
investments in emerging opportunities); lower volume (primarily
fleet); and unfavorable exchange. We continue to expect Ford
Credits pre-tax profit to be about $1.5 billion in 2017 and to
improve in 2018.
* * *
__________________________
1 Total company adjusted pre-tax profit is a non-GAAP
financial measure. Ford does not provide guidance on net income,
the comparable GAAP financial measure. Full-year net income in
2017 and 2018 will include potentially significant special items
that have not yet occurred and are difficult to predict with
reasonable certainty prior to each year end, specifically pension
and OPEB remeasurement gains and losses.
financial measure. Ford does not provide guidance on net income,
the comparable GAAP financial measure. Full-year net income in
2017 and 2018 will include potentially significant special items
that have not yet occurred and are difficult to predict with
reasonable certainty prior to each year end, specifically pension
and OPEB remeasurement gains and losses.
>Risk Factors
Statements included or incorporated by reference herein may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on expectations, forecasts, and assumptions
by our management and involve a number of risks, uncertainties,
and other factors that could cause actual results to differ
materially from those stated, including, without limitation:
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on expectations, forecasts, and assumptions
by our management and involve a number of risks, uncertainties,
and other factors that could cause actual results to differ
materially from those stated, including, without limitation:
|
Decline in industry sales volume, particularly in the
United States, Europe, or China, due to financial crisis, recession, geopolitical events, or other factors; |
|
Lower-than-anticipated market acceptance of Fords new or
existing products or services, or failure to achieve expected growth; |
|
Market shift away from sales of larger, more profitable
vehicles beyond Fords current planning assumption, particularly in the United States; |
|
Continued or increased price competition resulting from
industry excess capacity, currency fluctuations, or other factors; |
|
Fluctuations in foreign currency exchange rates, commodity
prices, and interest rates; |
|
Adverse effects resulting from economic, geopolitical,
protectionist trade policies, or other events; |
|
Work stoppages at Ford or supplier facilities or other
limitations on production (whether as a result of labor disputes, natural or man-made disasters, tight credit markets or other financial distress, production constraints or difficulties, or other factors); |
|
Single-source supply of components or materials;
|
|
Labor or other constraints on Fords ability to maintain
competitive cost structure; |
|
Substantial pension and other postretirement liabilities
impairing liquidity or financial condition; |
|
Worse-than-assumed economic and demographic experience for
pension and other postretirement benefit plans (e.g., discount rates or investment returns); |
|
Restriction on use of tax attributes from tax law ownership
change; |
|
The discovery of defects in vehicles resulting in delays in
new model launches, recall campaigns, or increased warranty costs; |
|
Increased safety, emissions, fuel economy, or other
regulations resulting in higher costs, cash expenditures, and/or sales restrictions; |
|
Unusual or significant litigation, governmental
investigations, or adverse publicity arising out of alleged defects in products, perceived environmental impacts, or otherwise; |
|
Adverse effects on results from a decrease in or cessation
or clawback of government incentives related to investments; |
|
Cybersecurity risks to operational systems, security
systems, or infrastructure owned by Ford, Ford Credit, or a third-party vendor or supplier; |
|
Failure of financial institutions to fulfill commitments
under committed credit and liquidity facilities; |
|
Inability of Ford Credit to access debt, securitization, or
derivative markets around the world at competitive rates or in sufficient amounts, due to credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors; |
|
Higher-than-expected credit losses, lower-than-anticipated
residual values, or higher-than-expected return volumes for leased vehicles; |
|
Increased competition from banks, financial institutions,
or other third parties seeking to increase their share of financing Ford vehicles; and |
|
New or increased credit regulations, consumer or data
protection regulations, or other regulations resulting in higher costs and/or additional financing restrictions. |
We cannot be certain that any expectation, forecast, or
assumption made in preparing forward-looking statements will
prove accurate, or that any projection will be realized. It is to
be expected that there may be differences between projected and
actual results. Our forward-looking statements speak only as of
the date of their initial issuance, and we do not undertake any
obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events,
or otherwise. For additional discussion, see Item 1A. Risk
Factors in our 2016 Form 10-K Report, as updated by our
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K.
assumption made in preparing forward-looking statements will
prove accurate, or that any projection will be realized. It is to
be expected that there may be differences between projected and
actual results. Our forward-looking statements speak only as of
the date of their initial issuance, and we do not undertake any
obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events,
or otherwise. For additional discussion, see Item 1A. Risk
Factors in our 2016 Form 10-K Report, as updated by our
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K.
About FORD MOTOR CREDIT COMPANY LLC (NYSE:F)
Ford Motor Company is a global automotive and mobility company. The Company’s business includes designing, manufacturing, marketing, and servicing a full line of Ford cars, trucks, and sport utility vehicles (SUVs), as well as Lincoln luxury vehicles. The Company operates in four segments: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. The Automotive segment primarily includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories across the world. The Financial Services segment primarily includes its vehicle-related financing and leasing activities at Ford Motor Credit Company LLC. Ford Smart Mobility LLC is a subsidiary formed to design, build, grow, and invest in emerging mobility services. The Central Treasury Operations segment is primarily engaged in decision making for investments, risk management activities, and providing financing for the Automotive segment. FORD MOTOR CREDIT COMPANY LLC (NYSE:F) Recent Trading Information
FORD MOTOR CREDIT COMPANY LLC (NYSE:F) closed its last trading session down -0.12 at 11.65 with 71,107,861 shares trading hands.
